postmodern redevelopment of the word "gay" - it now implies all the formerly offensive stereotypes of uselessness / weakness then associated with effeminate homosexual men in 1970's sitcoms, whilst carrying with it no actual implied sexuality connotations.

A different spelling of "gay" that some idiots thought up and pretend that it's less derogatory to homosexuals. When in fact, they are wrong. Changing the spelling of a slur doesn't make it any less offensive. Just like spelling the n-word as "kniggar" doesn't make it less of a racial slur.